Unfortunately crypto is still somehow a thing. There is a couple year old bitcoin mining facility in my small town that brags about consuming 400MW of power to operate and they are solely owned by a Chinese company.
But paper currency is backed by a nation state, so I’m betting it’ll be around a bit longer then a purely digital asset without the backing of a nation, and driven entirely by speculation.
I’m not even anti-crypto. It was novel idea when it was actually used entirely as a currency, but that hasn’t been true for quite some time.
Crypto currencies are still backed by and dependent on those same currencies. And their value is incredibly unstable, making them largely useless except as a speculative investment for stock market daytraders. BitCoin may as well be Doge Coin or Bored Ape NFTs as far as the common person is concerned.
I hope your coins haven’t seen a 90%+ drop in value in the past 4 years like the vast majority have.
Unfortunately crypto is still somehow a thing. There is a couple year old bitcoin mining facility in my small town that brags about consuming 400MW of power to operate and they are solely owned by a Chinese company.
I recently noticed a number of bitcoin ATMs that have cropped up where I live - mostly at gas stations and the like. I am a little concerned by it.
Do you really think that paper money covered in colonizers and other slavermasters is going to last forever?
lol
Forever? No, of course not.
But paper currency is backed by a nation state, so I’m betting it’ll be around a bit longer then a purely digital asset without the backing of a nation, and driven entirely by speculation.
I’m not even anti-crypto. It was novel idea when it was actually used entirely as a currency, but that hasn’t been true for quite some time.
Found the diamond hands.
Crypto currencies are still backed by and dependent on those same currencies. And their value is incredibly unstable, making them largely useless except as a speculative investment for stock market daytraders. BitCoin may as well be Doge Coin or Bored Ape NFTs as far as the common person is concerned.
I hope your coins haven’t seen a 90%+ drop in value in the past 4 years like the vast majority have.
I hope this is sarcasm.